Press release
Ichor Holdings, Ltd. Announces Fourth Quarter and Fiscal Year 2024 Financial Results
FREMONT, Calif.--(BUSINESS WIRE)-- Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery
About this update from Ichor Holdings
[{"type":"text","content":" FREMONT, Calif.--(BUSINESS WIRE)--\nIchor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment, today announced fourth quarter and fiscal year 2024 financial results.\n\n\nFourth quarter 2024 highlights:\n\n\n\nRevenues of $233 million, at the upper end of our guidance range communicated in November;\n\n\n\nGross margin of 11.6% on a GAAP basis and 12.0% on a non‑GAAP basis; and\n\n\n\nEarnings (loss) per share of $(0.12) on a GAAP basis and $0.08 on a non-GAAP basis.\n\n\n\nFiscal year 2024 highlights:\n\n\n\nRevenues of $849 million, up 5% year-over-year;\n\n\n\nGross margin of 12.2% on a GAAP basis and 12.7% on a non‑GAAP basis; and\n\n\n\nEarnings (loss) per share of $(0.64) on a GAAP basis and $0.18 on a non-GAAP basis.\n\n\n\n“We are pleased to report that the strengthening customer demand environment resulted in over 10% sequential revenue growth in Q4, and another quarter of growth expected for Q1,” commented Jeff Andreson, Ichor’s CEO. “With our revenue run rate up significantly from prior levels, our gross margin performance for Q4 was affected by cost headwinds ramping our direct labor force as well as one-time inventory charges and less favorable product and customer mix. While we expect some of these factors will continue to some degree into Q1, the vast majority of cost headwinds were unique to the fourth quarter and we expect significant gross margin improvement ahead for 2025. The customer demand profile has continued to strengthen year-to-date, indicating expectations for a continued robust business environment for leading edge foundry and logic investments, and the beginning of a recovery in overall memory investments, leading us to be confident in Ichor’s ability to outgrow WFE in 2025 and demonstrate significant gross margin and earnings leverage.”\n\n\n\n\n \n\n\n\n\n\n\nQ4 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ3 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ4 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nFY2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nFY2023\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n(dollars in thousands, except per share amounts)\n\n\n\n\n\n\n\n\nU.S. GAAP Financial Results:\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\...